Can it break the channell?
Diupdate
Nifty approaching resistance zone.
It need to break out of the channel to be impulsive.
there was throw away in the down side ,hence it need to
to maintain above the channell.
As it can be seen in the lower pannel,stochiastic is approaching resistance
zone(trend line joining to peaks there)
With small caps and midcaps out performing large cap in recent times
momentum of major indices are slowing down.
Immediately nifty should touch 19477.
19522 is important.
19477 is likely to be touched on muhurat trading session.
Now nifty is approaching near testing zone.
Now nifty has covered 50 percent of the down move from 17 th october 23 to 26 october 23.
61.8 percent comes around 19474.19474-19477 is certain to be touched.
But if touches 19522 that will mitigate many odds.
for example this rise may be a flat correction.
if rises above 19522 that odd may be relieved to some extent.
Don't forget to like this post if it helps you.
Follow me to get updates.
It need to break out of the channel to be impulsive.
there was throw away in the down side ,hence it need to
to maintain above the channell.
As it can be seen in the lower pannel,stochiastic is approaching resistance
zone(trend line joining to peaks there)
With small caps and midcaps out performing large cap in recent times
momentum of major indices are slowing down.
Immediately nifty should touch 19477.
19522 is important.
19477 is likely to be touched on muhurat trading session.
Now nifty is approaching near testing zone.
Now nifty has covered 50 percent of the down move from 17 th october 23 to 26 october 23.
61.8 percent comes around 19474.19474-19477 is certain to be touched.
But if touches 19522 that will mitigate many odds.
for example this rise may be a flat correction.
if rises above 19522 that odd may be relieved to some extent.
Don't forget to like this post if it helps you.
Follow me to get updates.
Catatan
Chart looks to be little clumsy.But it was essential to show fib levels and targets.
Scrolling up there may be clarity.
we have that facility in trading view .
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